December 2024
09Dec

US. Florida to invest $1.85B from pension fund in Bitcoin

Florida plans to invest $1.85 billion from its pension fund into Bitcoin to take the lead in using cryptocurrency, with support from state leaders and the Florida Blockchain Business Association. Florida is planning to invest $1.85 billion from its state pension fund into Bitcoin, aiming to lead in cryptocurrency adoption. Backed by the Florida Blockchain Business Association (FBBA) and pro-crypto leaders, this move could change how states use digital assets in their financial plans. Florida to invest $1.85 billion in Bitcoin Florida’s $185.7...

December 9, 2024
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04Dec

UK. The case for pension scheme investment in Bitcoin

In this article, Sam Roberts, the director of investment consulting at the scheme's adviser, Cartwright, explains why he believes Bitcoin has now evolved from a niche digital asset into a mainstream investment opportunity… Remember what they said about the following … Facebook...? It will never take off... a passing trend… no long-term growth. The reality was it became one of the largest social media platforms worldwide, a multibillion-dollar company, and paved the way for social media as we know it. ...

December 4, 2024
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02Dec

UK. DWP exact amount pensioners can have in savings before losing benefits

Some Department for Work and Pension benefits come with a list of eligibility criteria they have to meet, sometimes including having less than a certain amount in savings. This includes Universal Credit, Tax Credits, Council Tax Support, Income-based Jobseeker’s Allowance, income-related Employment and Support Allowance, Income Support and Housing Benefit. These are dubbed means-tested benefits and their savings requirements extend past the state pension age for Pension Credit, Housing Benefit and Council Tax Support. Each of these benefits have their...

December 2, 2024
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November 2024
28Nov

UK. Pension scheme panned for reportedly taking Bitcoin position

An unnamed UK pension scheme has sparked controversy after investing 3% of its assets in Bitcoin, becoming the first in the country to do so, according to Sky News. The move has been criticised and called "deeply irresponsible" with the warning that it risks retirees' futures by speculating in volatile assets. The pension scheme's advisor, Cartwright, argued that Bitcoin offers diversification and could yield high returns with minimal downside risk. However, critics, including actuary Daniel Wiltshire, caution that pension funds should prioritize long-term stability...

November 28, 2024
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06Nov

First UK pension scheme dives into Bitcoin, but don’t expect a stampede

The first UK pension fund has invested in Bitcoin according to the pension specialists Cartwright with the scheme reportedly allocating 3% of its assets to the cryptocurrency. Laith Khalaf, head of investment analysis at AJ Bell, comments: “It was only a matter of time before a UK pension scheme bought into Bitcoin, but this isn’t likely to spark a stampede into the asset class. Bitcoin is notoriously volatile, and pension scheme trustees are just as notoriously risk averse. Why wouldn’t you be when...

November 6, 2024
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July 2023
27Jul

Pension funds, other institutional investors and wealth managers plan to boost crypto investments

Nearly three out of four (74%) institutional investors and wealth managers questioned say their organisation will increase its level of investment in the sector in the year ahead. Nearly one in five (18%) will dramatically increase investment levels. The study with institutional investors and wealth managers in the US, UK, Germany, Switzerland, Singapore, Brazil and the United Arab Emirates who collectively manage around $3.5 trillion in assets, found growing confidence in the sector in the short and longer term. Nearly nine...

July 27, 2023
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April 2023
24Apr

Canada’s Biggest Pension Fund No Longer Bullish On Crypto After $95 Million FTX Wipeout

According to the Financial Times, Canada’s largest single-profession pension plan has learned its lesson after investing in crypto exchange FTX and will not be making any hasty decisions regarding future cryptocurrency investments. After losing $95 million in a now-defunct crypto exchange, the Ontario Teachers’ Pension Plan is no longer bullish on cryptocurrency investments. Several prominent funds invested in FTX between 2021 and 2022, just before the exchange’s eventual demise. Pension Plan No Longer Bullish On Crypto According to chief executive Jo Taylor,...

April 24, 2023
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March 2023
29Mar

Canada to Ask Pension Funds to Disclose Crypto Exposure

Canada's national government said federally regulated pension funds in the country will need to disclose their crypto assets exposure to the Office of the Superintendent of Financial Institutions (OSFI), as Ottawa tightens its regulatory oversight on the volatile industry. "To help protect Canadians’ retirements, Budget 2023 announces that the government will require federally regulated pension funds to disclose their crypto-asset exposures to OSFI," the government said in the new 2023 budget plan. The federal government will also work with provinces...

March 29, 2023
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09Mar

Does your public pension fund hold risky crypto-related investments? It can take a fight to find out.

In wake of FTX collapse, many questions, fewer answers about public plans' private holdings and who is benefiting from them. Crypto exposure is 'a canary in a coal mine.' Robin Rayfield had three minutes to speak. That wasn't much time for the 66-year-old Delta, Ohio, retired educator to raise his long list of concerns about the defined-benefit pension plan he relies on for his retirement income. It was December 2022, about a month after the collapse of cryptocurrency exchange FTX, and...

March 9, 2023
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February 2023
15Feb

US. SEC Proposes Rule Making It Harder For Crypto Firms To Work With Hedge, Pension Funds

The U.S. Securities and Exchange Commission (SEC) is set to propose rule changes that would make it harder for crypto firms to be designated as "qualified custodians," Bloomberg reported. The new rules would allow crypto firms to hold client assets for money managers. While the proposed changes have not yet been released, they could make it more difficult for institutional funds that have invested in cryptocurrency to comply with regulatory requirements for holding client assets. These funds may need to move their...

February 15, 2023
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